- Essakane produced 60.58% of Iamgold’s gold in 2022
- Despite supply difficulties due to insecurity in Burkina Faso Essakane benefited from higher grades of 1.35 grams of gold per tonne in the 4th quarter
- And a gold recovery rate of 89%.
- Pending the release of year-end financial results on 16 February 2023
Pending the release of its year-end financial results on February 16, 2023 after the market closes, Iamgold Corporation released its fourth quarter 2022 operating results on January 17, 2023 in Toronto, Canada.
The company produced 713,000 ounces in 2022, exceeding the upper end of the revised production guidance of 650,000 to 705,000 ounces, of which 185,000 ounces were produced in the fourth quarter. Annual gold sales were 721,000 ounces on an attributable basis at an average realised gold price of 1,742 $ per ounce. Fourth quarter gold sales were 183,000 ounces on a attributable basis at an average realised price of 1,670 $ per ounce.
As Maryse Bélanger, Iamgold’s Chairman and Interim President and CEO, said, “Iamgold ended the year with a strong quarter, with production exceeding the upper end of our updated guidance”.
Iamgold is a gold mining company with operations in three regions of the world: North America, South America and West Africa. Within these regions, its mines are located at Essakane (Burkina Faso), Rosebel (Suriname) and Westwood (Canada). The Company is currently building its fourth mine: the Côté Gold project in Canada.
Maryse Bélanger highlighted Iamgold’s position: “Iamgold Essakane SA continued its strong performance with a record 432,000 ounces for the year, although supply constraints in the country continue to present operational challenges. At Iamgold, the safety of all our employees is our number one priority, and the Company continues to take proactive measures to ensure the safety and security of personnel in the country and is constantly adjusting its protocols and activity levels on site in response to the security environment”. Essakane production represents 60.58% of Iamgold’s 2022 gold production. Iamgold Essakane SA’s 2022 annual gold production of 432,000 ounces exceeds the upper end of the updated guidance range of 410,000 to 430,000 ounces. The mine achieved these results because it benefited from higher grades during the year. In the fourth quarter, Iamgold Essakane SA benefited from a grade of 1.35 grams of gold per tonne and a gold recovery rate of 89%. Mining activities were lower in the quarter due to supply chain constraints related to the country’s security environment, while ensuring the necessary stripping activities to secure access to the ore planned for mining in 2023.
Iamgold’s interim chairman, president and CEO concluded: “Looking ahead, we are fully focused on safely mining and bringing Côté Gold into production. We remain on track to begin production at Côté early next year. We will provide an update on Côté as well as operational and financial guidance with our year-end results in February”.
In October 2022, Iamgold Essakane SA made two major management changes. While Tidiane Barry was appointed General Manager of the company, Souleymane Boly was promoted to Country Manager of Iamgold Essakane SA.
Elie KABORE
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